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Fly News Breaks for July 22, 2019
HPE, NTAP
Jul 22, 2019 | 08:58 EDT
Loop Capital analyst Ananda Baruah lowered his price target on NetApp (NTAP) to $72 and also lowered his FY19 EPS view on Hewlett-Packard (HPE) to $1.65 from $1.72, saying his checks suggest that the industry sales cycles have continued to elongate while the demand for industry server and storage systems has been 2%-3% lower than anticipated. The analyst maintains his Buy rating on NetApp longer term, stating that the company is "best positioned" to benefit from the All Flash Array build-out, which could still last 2-3 years.
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